I’m not sure it was considered common sense when the bet was made. And when it settled there were various claims that Buffet got lucky in that stocks just went up over the 10 years – perhaps he wouldn’t have won if there was some kind of crash.
I’m not claiming he was wrong but I’m not sure one can really reduce it to those few points as if it makes it all obvious.
I’m not claiming he was wrong but I’m not sure one can really reduce it to those few points as if it makes it all obvious.